[SkyPilot]

The Fed's motive in the second event was similar to the first: to drive large numbers of investors back into the stock and bond markets, to pump up the balance sheets of the big (broke) banks and restore confidence in the markets and the dollar.

And they succeeded, so far. The Papier-mâché market has soared to gasping heights. But, I firmly believe the day of reckoning cannot be avoided.

[lentulusgracchus]

Erratum:
I wrote that "Lehman and Morgan Stanley" were Fed collaborators in the 2009 levitation act. That was incorrect, since Lehman Brothers was no longer around. I meant Goldman Sachs and its CEO, Lloyd Blankfein. Goldman is the Little Guy Harvesting Machine that enjoys "near-perfect knowledge" because of its numerous (and illicit) connections to the Federal Reserve leadership and bureaucracy. You could almost call them a "co-Fed", except that the relationship is largely parasitic.